A survey of economists found that the majority approve of Federal Reserve Chairman Ben Bernanke’s conduct in the midst of the financial crisis and wish for the agency head to keep his post, according to the Wall Steet Journal. The survey, conducted by the Wall Street Journal, found that the 47 economists responding saw a 71 percent chance that President Barack Obama would ask Bernanke to continue on in his role at the Fed. “He deserves a lot of credit for stabilizing the financial markets,” said one analyst. “Confidence in recovery would be damaged if he was not reappointed.” The same polled economists also say that the recession, which began in December 2007, is now officially over. Of the 47 respondents, 27 said that the recession has already ended, with an additional 11 foreseeing the low-point as occurring either this month or next.
Economists Say Recession is Over; Support Second Term for Bernanke
Economists agree that the recession is ending and that Bernanke deserves credit.
August 13, 2009